Analysts are now saying that the world's second largest economy may not be the "long-term structural importer of thermal coal" suppliers have been betting on.
Giant miner Rio Tinto said Monday that it has started exporting premium hard coking coal from its Mozambique Benga Mine, its first shipment of 34,000 tons has left the Port of Beira and is bound for an Indian steel mill.
The Columbian, a newspaper out of Vancouver, WA, put together a handy map showing proposed development plans for six coal terminals in Oregon and Washington, the status of each along with what the project has going for it and opposition lined up against.
Fortescue Metals has lodged a challenge in the High Court of Australia against the Federal Government's Minerals Resource Rent Tax on constitutional grounds.
The lands will be open for mining licenses, but a majority of them are in protected zones, so officials would have to carefully pick specific regions to auction.
Arch Coal (NYSE:ACI), the second largest supplier of coal in the USA, is laying off 750 full-time workers at its Appalachia mining operations after owners said that demand had reached a 20-year low.
The performance of iron ore is in stark contrast to other commodities including copper which has shed 4% over the last two days and crude oil which touched a 52-week low of under $78 a barrel today.